Cypress Point Wealth Management LLC Has $113.71 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cypress Point Wealth Management LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,503,503 shares of the company’s stock after selling 32,741 shares during the quarter. Palantir Technologies makes up approximately 35.4% of Cypress Point Wealth Management LLC’s holdings, making the stock its biggest holding. Cypress Point Wealth Management LLC’s holdings in Palantir Technologies were worth $113,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in Palantir Technologies by 20.9% in the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after buying an additional 9,109 shares during the period. ProShare Advisors LLC lifted its stake in Palantir Technologies by 14.9% in the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after buying an additional 1,702 shares during the period. AXA S.A. grew its position in shares of Palantir Technologies by 443.5% during the 2nd quarter. AXA S.A. now owns 116,302 shares of the company’s stock worth $2,946,000 after buying an additional 94,903 shares during the period. APG Asset Management N.V. raised its position in shares of Palantir Technologies by 3.7% in the 2nd quarter. APG Asset Management N.V. now owns 1,308,264 shares of the company’s stock valued at $30,920,000 after acquiring an additional 47,061 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in Palantir Technologies in the second quarter valued at approximately $3,361,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $78.98 on Friday. The firm has a 50 day moving average of $71.96 and a 200-day moving average of $49.04. The stock has a market capitalization of $179.92 billion, a PE ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the sale, the insider now directly owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.